Stock Yards Bancorp, Inc. $SYBT Shares Sold by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. reduced its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 17.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,568 shares of the bank’s stock after selling 4,680 shares during the period. Amica Mutual Insurance Co. owned 0.08% of Stock Yards Bancorp worth $1,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank increased its position in Stock Yards Bancorp by 1,405.6% during the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after buying an additional 1,012 shares in the last quarter. Truist Financial Corp purchased a new stake in Stock Yards Bancorp during the 2nd quarter worth about $207,000. Contravisory Investment Management Inc. acquired a new position in Stock Yards Bancorp in the 2nd quarter valued at about $256,000. Ardent Capital Management Inc. acquired a new position in Stock Yards Bancorp in the 2nd quarter valued at about $267,000. Finally, Quantbot Technologies LP lifted its holdings in Stock Yards Bancorp by 132.8% in the 1st quarter. Quantbot Technologies LP now owns 4,070 shares of the bank’s stock valued at $281,000 after purchasing an additional 2,322 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Insider Buying and Selling at Stock Yards Bancorp

In other news, CEO James A. Hillebrand sold 2,162 shares of Stock Yards Bancorp stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total transaction of $180,137.84. Following the sale, the chief executive officer directly owned 107,292 shares of the company’s stock, valued at approximately $8,939,569.44. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Hardy purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of $66.53 per share, for a total transaction of $133,060.00. Following the purchase, the director owned 2,000 shares of the company’s stock, valued at approximately $133,060. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.40% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $66.94 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. Stock Yards Bancorp, Inc. has a 1-year low of $60.75 and a 1-year high of $83.83. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.62 and a beta of 0.66. The business has a 50-day moving average of $71.20 and a 200-day moving average of $74.69.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The firm had revenue of $120.27 million for the quarter, compared to analyst estimates of $100.00 million. Stock Yards Bancorp had a return on equity of 13.89% and a net margin of 24.50%. On average, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. Stock Yards Bancorp’s dividend payout ratio (DPR) is 27.95%.

Analyst Upgrades and Downgrades

SYBT has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.67.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.